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LyondellBasell set to purchase Indian plastics maker

LyondellBasell set to purchase Indian plastics maker
Plastics and chemicals maker LyondellBasell (Houston, TX) is set to buy India-based polypropylene compounds (PPC) maker SJS Plastiblends. Terms of the financial agreement have not been disclosed. The purchase will expand LyondellBasell's existing footprint in India and expand the Company’s position in India's growing automotive market. The deal is expected to be finalized in late 2015.

Plastics and chemicals maker LyondellBasell (Houston, TX) is set to buy India-based polypropylene compounds (PPC) maker SJS Plastiblends. Terms of the financial agreement have not been disclosed. The purchase will expand LyondellBasell's existing footprint in India and expand the Company’s position in India's growing automotive market. The deal is expected to be finalized in late 2015.

LyondellBasell is among the world’s largest producers of ethylene and propylene oxide.

"This acquisition will expand our global PPC manufacturing footprint and allow us to better compete in the long-term growth of India's automotive market," said Bhavesh V. (Bob) Patel, CEO and Chairman of the Management Board of LyondellBasell. "We are very proud of the strong, global reputation we have built by manufacturing high-quality products and providing excellent service to our customers. We look forward to continuing this tradition in India through this expansion."

LyondellBasell products and technologies are used to make items that improve the quality of life for people around the world including packaging, electronics, automotive parts, home furnishings, construction materials and biofuels.

SJS has approximately 60 employees and one manufacturing site with annual production capacity of approximately 12,000 metric tons of PPC, used in everything from car parts to home appliances.

TAGS: Materials
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